Source: Deadline Hollywood Daily
UPDATE (6:30pm): 20th Century Fox has confirmed via a press release that Vaughn has been signed to direct the film, which is now officially slated for June 3, 2011.
Original report follows:
Despite initial reports that the director had passed on the project, Kick-Ass director Matthew Vaughn is still being courted by producers Lauren Shuler Donner and Bryan Singer to direct X-Men: First Class.
The Layer Cake director notoriously backed out of X-Men: The Last Stand after it became clear that he would be forced to relocate to the United States to film it. Vaughn went on to make Stardust, while Brett Ratner ultimately took the reigns on the second X-sequel.
Director Bryan Singer, who helmed the first two pictures, was planning to make his return to the franchise with First Class, but obligations to Jack the Giant Killer at Warner Bros. forced him to step down into a producing capacity.
Prior to negotiations re-opening, the studio was courting Louis Leterrier (Clash of the Titans) and Timur Bekmambetov (Wanted), among others. X-Men: First Class is currently slated for a 2011 release. A film focusing on Magneto and an X-Men 4 are still being developed.